1. Opportunity Recognition

2. Brain Teaser Could you connect the 9 dots with 4 connecting lines ?
Don’t lift your writing instrument off the paper!

3. Brain Teaser
People often assume that you must stay within the “box” created by the dots.
Think outside the box…literally.

4. Brain Teaser #2
Finally: Is it possible to do with 1 straight line without cutting the page?

5. Brain Teaser #2
Had you made any assumptions about what the definition of a “line” is?
Every part of the problem/question can present a possible solution.
Nothing is impossible.
Consider every solution before deciding on the best solution.

6. Opportunity Recognition
The identification of unfulfilled desires in the market place
The creation of ideas for services or products that satisfy those market needs

7. Opportunity Recognition
Market:
a group of people potentially interested in buying a product or service.

8. Opportunity Recognition
Product vs. Service
Product: something tangible that exists or is made, usually to be sold
Service: Intangible work providing time, skills or expertise in exchange for money

9. Opportunity Recognition
The Internal Entrepreneur
Turns hobbies, skills, interests into business opportunities
Ex: Ben Cohen & Jerry Greenfield,
Ben & Jerry’s Homemade, Inc.
Ex: Jasmine Jordan,
Tools for Living Magazine

10. Six Roots of Opportunity
Problems that your business could solve
Changes in laws, situations and trends
Inventions of totally new products or services
Competition
Technological advances
Unique Knowledge

11. Six Roots of Opportunity
Problems that your business could solve
Changes in laws, situations and trends
Inventions of totally new products or services
Competition
Beat competition based on quality, reputation, reliability, location, hours of operation, price.
Technological advances
Unique Knowledge

12. Six Roots of Opportunity
Problems that your business could solve
Changes in laws, situations and trends
Inventions of totally new products or services
Competition
Technological advances
Scientists may invent technology, entrepreneurs figure out how to sell the technology
Unique Knowledge

13. Six Roots of Opportunity
Problems that your business could solve
Changes in laws, situations and trends
Inventions of totally new products or services
Competition
Technological advances
Unique Knowledge of one’s neighborhood, friends and community

14. External Opportunity Recognition
Business Idea
Problem: pollution
Private Recycling Companies
Change: 9/11
Airport Security Training Services
Invention: busy people who need to clean their homes
roomba
Competition: cell phone nighttime minutes
AT&T’s nighttime minutes start at 9pm while Sprint’s start at 7pm.
Technological Advances: mp3 and digital music players
Apple iPod
Unique Knowledge: BMX bike racing culture in Santa Fe
Bike Store

15. Opportunity Recognition Game
Students will be split into groups of 3-5 and will be given the board and cut outs.
Students will be given 2 minutes to post the cut outs on the correct opportunity box.
The first group to say “NFTE” and that has the most number of correct answers wins.

16. The Good Business Opportunity
Business Idea
Vs.
The Good Business Opportunity

17. Idea vs. Opportunity Opportunity Idea
A carefully researched business idea that can earn a profit
Think feasibility
Idea
Business solution that has yet to be researched and analyzed

18. Business Idea Brainstorm
In groups of 3, brainstorm a business idea
Think feasibility
Think from a student perspective
What can you do tomorrow with the resources you have today?

19. Opportunity Screen 1. Is it attractive to customers?
Will it work in your business environment?
Is there a window of opportunity?
Do you have the resources and skills to create the business or do you know someone who does?
Can you supply the product or service at a price that will be attractive to customers yet will be high enough to earn you a profit?

20. Opportunity Screen Is it attractive to customers?
Will it work in your business environment?
Is there a window of opportunity?
Do you have the resources and skills to create the business or do you know someone who does?
Can you supply the product or service at a price that will be attractive to customers yet will be high enough to earn you a profit?

21. Opportunity Screen Is it attractive to customers?
Will it work in your business environment?
3. Is there a window of opportunity?
Do you have the resources and skills to create the business or do you know someone who does?
Can you supply the product or service at a price that will be attractive to customers yet will be high enough to earn you a profit?

22. Opportunity Screen Is it attractive to customers?
Will it work in your business environment?
Is there a window of opportunity?
4. Do you have the resources and skills to create the business or do you know someone who does?
Can you supply the product or service at a price that will be attractive to customers yet will be high enough to earn you a profit?

23. Opportunity Screen Is it attractive to customers?
Will it work in your business environment?
Is there a window of opportunity?
Do you have the resources and skills to create the business or do you know someone who does?
5. Can you supply the product or service at a price that will be attractive to customers yet will be high enough to earn you a profit?

24. Opportunity Screen Is it attractive to customers?
Will it work in your business environment?
Is there a window of opportunity?
Do you have the resources and skills to create the business or do you know someone who does?
Can you supply the product or service at a price that will be attractive to customers yet will be high enough to earn you a profit?
If you answer no to even one question, refine the business idea!

25. Idea vs. Opportunity
“Choose a business idea you can start tomorrow with the skills and resources you have today.”
Katerina Zacharia
Youth Entrepreneurship Educator and Advocate
NFTE Certified Entrepreneurship Teacher

26. Perform a S.W.O.T. Analysis
During Concept Development
Perform a S.W.O.T. Analysis

27. During Concept Development
Perform a S.W.O.T. Analysis
Determine the Strengths and Weaknesses of your resources, knowledge, team.
Determine the Opportunities for your business idea, and the Threats to its potential success.

28. S.W.O.T. Analysis The Marketplace The Entrepreneur, Team
Strengths Weaknesses 1. 2.
Opportunities Threats 1. 2.
The Entrepreneur, Team
The Marketplace

29. Building S.W.O.T. into the business plan
Strengths Qualifications &
Competitive Adv.
Opportunities Opportunity for your bus. in market
Weaknesses & Strategy for
Threats minimizing risk &
risk management

30. Why Develop a Business Plan?
Forces the entrepreneur to think, critically and unemotionally, about every aspect of a business idea.
Serves as a guide for the owner as he or she manages the business towards its success.
Shows potential investors that the business is thoughtfully planned.
Expresses specifically how the business and its investors can potentially make a profit.

31. Business Plan Work Groups
Brainstorm business ideas, choose 1
Evaluate the opportunity
SWOT Analysis
Opportunity Screen
Develop business idea in 3 clear sentences
Complete PowerPoint Slides 1, 2 in PowerPoint Business Plan Template, plus “Qualifications” slide